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Counterfeit Coins 101
ABSilvercoins
Posts: 309
Counterfeit Coins 101
For the purpose of this essay, we are talking about counterfeits of US made coins, specifically Silver Dollars. Many of these same detection techniques will work on other coins, but the Silver Dollar is the coin most likely to be counterfeit.
We are talking about the more obvious fakes. Occasionally, there are some new, fairly high-quality counterfeits brought to the market. This link talks about such an example: Hong Kong Coin Show The true experts can sometimes be fooled, so it would be presumptuous to assume this limited knowledge would help against this level of fakery.
Reading this document should provide you with a measure of protection against the multitudes of low and mid-range counterfeits. Preparing you for a career at PCGS as the go-to Counterfeit expert is outside the scope of this document!
First start with a big question: Where, exactly, is the coin physically located at this very moment?
If the US dollar coin is in the Far East, and for sale to you, it is very likely counterfeit. I'm sorry if that steps on anyone's toes, but I know this to be true from experience. I have (US and foreign) coins purchased in Singapore, Thailand, Hong Kong and the Phillipines over a 10-year period. Not a single coin has proven genuine. Some are fairly good counterfeits, others are laughable. (Just so you know: I bought all of these coins except one knowing that it was counterfeit, even though represented as genuine. 4 for a dollar, usually)
It is not against the law in some Asian countries to reproduce the coinage of another country.
Many counterfeits can be spotted from a good picture of the coin. This requires that the viewer have intimate knowledge of genuine coins or has a really good reference on what to look for.
Official Guide to Coin Grading & Counterfeit Detection
Authors: Scott Travers & John W. Dannreuther
ISBN: 0375720502
Compare these pictures. (4 different coins below) See if you can tell which one is fake:
OK, that was too easy... The one GENUINE coin is the 1799. The other three are fake.
Some really poor-quality counterfeits can still pass the picture test. You need to have any coin in-hand to have a real chance of knowing.
CAST COINS
Definition - A coin that was made by pouring melted metal into a mold or cast. Not made by striking a die against a blank like most coins. Casting was a common process used to try to counterfeit coins. (ref: www.mycoincollecting.com)
One method that has been used over the years is 'Lost Wax' casting.
Wikipedia Lost-Wax Casting
One result of casting is that the coin will lack any semblance of mint luster. Often the coin has a detailed appearance but seems mildly corroded or even pitted.
Another result of casting coins is, almost always, the coin will have a noticeable line around the edge.
This tell-tale edge line is best seen with the eye under low or no magnification. Once you have seen a few, it will jump out at you -- and you can see it from 5 feet away. Sometimes, the counterfeiter will try to erase or hide the line, which is usually not successful. Since the target victim is typically a novice coin grader, the line is often ignored by the counterfeiter.
The RING TEST
If you have a known-good silver coin handy, you can let the coin spin down on a hard, smooth surface. The counterfeit coin will make an entirely different sound. This is always true with the lower-quality fakes and is one of the most difficult hurdles for the low-end counterfeiter. Again, after you test a few counterfeits this way, the ring test is invaluable. A blind person could perform this test with 100% accuracy. (Unless the poor soul is also tone-deaf.)
Here is a .WAV file recording of a counterfeit Morgan Dollar followed by a genuine Morgan Dollar. Both coins were dropped from 3 inches onto a wooden table top. The drop spot is covered with a single sheet of paper. Can you tell the difference?
Listen to the sound of a Counterfeit
The WEIGHT (Specific Gravity)
Low-end counterfeiters typically are not using precious metal in the copy. As you can imagine, the specific gravity of the pot-metal is going to be different from silver. Sometimes, they make the counterfeit coin THICKER than genuine, in order to get the weight close. The low-end counterfeit will be a different size (volume) OR a different weight.
You do NOT need to get into ultra-accurate specific gravity tests here. The weight is usually drastically different from genuine. If the weight is the same, the coins will be different sizes.
In the following picture, the genuine Morgan is on the right. The much fatter counterfeit is still 2 grams lighter.
LAUGHABLE fakes
There is a little entertainment value to some counterfeit coins. (Remember the quy who bought a Big Mac with a 16-dollar bill?) Some are just funny...
FINAL EXAM
If you read this far, perhaps you found a useful bit of information...
Last item: Only ONE of the coins in the picture below is genuine. Which one is it?
For the purpose of this essay, we are talking about counterfeits of US made coins, specifically Silver Dollars. Many of these same detection techniques will work on other coins, but the Silver Dollar is the coin most likely to be counterfeit.
We are talking about the more obvious fakes. Occasionally, there are some new, fairly high-quality counterfeits brought to the market. This link talks about such an example: Hong Kong Coin Show The true experts can sometimes be fooled, so it would be presumptuous to assume this limited knowledge would help against this level of fakery.
Reading this document should provide you with a measure of protection against the multitudes of low and mid-range counterfeits. Preparing you for a career at PCGS as the go-to Counterfeit expert is outside the scope of this document!
First start with a big question: Where, exactly, is the coin physically located at this very moment?
If the US dollar coin is in the Far East, and for sale to you, it is very likely counterfeit. I'm sorry if that steps on anyone's toes, but I know this to be true from experience. I have (US and foreign) coins purchased in Singapore, Thailand, Hong Kong and the Phillipines over a 10-year period. Not a single coin has proven genuine. Some are fairly good counterfeits, others are laughable. (Just so you know: I bought all of these coins except one knowing that it was counterfeit, even though represented as genuine. 4 for a dollar, usually)
It is not against the law in some Asian countries to reproduce the coinage of another country.
Many counterfeits can be spotted from a good picture of the coin. This requires that the viewer have intimate knowledge of genuine coins or has a really good reference on what to look for.
Official Guide to Coin Grading & Counterfeit Detection
Authors: Scott Travers & John W. Dannreuther
ISBN: 0375720502
Compare these pictures. (4 different coins below) See if you can tell which one is fake:
OK, that was too easy... The one GENUINE coin is the 1799. The other three are fake.
Some really poor-quality counterfeits can still pass the picture test. You need to have any coin in-hand to have a real chance of knowing.
CAST COINS
Definition - A coin that was made by pouring melted metal into a mold or cast. Not made by striking a die against a blank like most coins. Casting was a common process used to try to counterfeit coins. (ref: www.mycoincollecting.com)
One method that has been used over the years is 'Lost Wax' casting.
Wikipedia Lost-Wax Casting
One result of casting is that the coin will lack any semblance of mint luster. Often the coin has a detailed appearance but seems mildly corroded or even pitted.
Another result of casting coins is, almost always, the coin will have a noticeable line around the edge.
This tell-tale edge line is best seen with the eye under low or no magnification. Once you have seen a few, it will jump out at you -- and you can see it from 5 feet away. Sometimes, the counterfeiter will try to erase or hide the line, which is usually not successful. Since the target victim is typically a novice coin grader, the line is often ignored by the counterfeiter.
The RING TEST
If you have a known-good silver coin handy, you can let the coin spin down on a hard, smooth surface. The counterfeit coin will make an entirely different sound. This is always true with the lower-quality fakes and is one of the most difficult hurdles for the low-end counterfeiter. Again, after you test a few counterfeits this way, the ring test is invaluable. A blind person could perform this test with 100% accuracy. (Unless the poor soul is also tone-deaf.)
Here is a .WAV file recording of a counterfeit Morgan Dollar followed by a genuine Morgan Dollar. Both coins were dropped from 3 inches onto a wooden table top. The drop spot is covered with a single sheet of paper. Can you tell the difference?
Listen to the sound of a Counterfeit
The WEIGHT (Specific Gravity)
Low-end counterfeiters typically are not using precious metal in the copy. As you can imagine, the specific gravity of the pot-metal is going to be different from silver. Sometimes, they make the counterfeit coin THICKER than genuine, in order to get the weight close. The low-end counterfeit will be a different size (volume) OR a different weight.
You do NOT need to get into ultra-accurate specific gravity tests here. The weight is usually drastically different from genuine. If the weight is the same, the coins will be different sizes.
In the following picture, the genuine Morgan is on the right. The much fatter counterfeit is still 2 grams lighter.
LAUGHABLE fakes
There is a little entertainment value to some counterfeit coins. (Remember the quy who bought a Big Mac with a 16-dollar bill?) Some are just funny...
FINAL EXAM
If you read this far, perhaps you found a useful bit of information...
Last item: Only ONE of the coins in the picture below is genuine. Which one is it?
//ab
0
Comments
The answer to the final exam question: They are ALL COUNTERFEIT except the 1886 Morgan in the center.
-Paul
Buying top quality Seated Dimes in Gem BU and Proof.
Buying great coins - monster eye appeal only.
Check out my current listings: https://ebay.com/sch/khunt/m.html?_ipg=200&_sop=12&_rdc=1
<< <i>The answer to the final exam question: They are ALL COUNTERFEIT except the 1886 Morgan in the center. >>
I'm thinking the 1882 Morgan is the real coin.
My OmniCoin Collection
My BankNoteBank Collection
Tom, formerly in Albuquerque, NM.
Nice post, thank you!
Last item: Only ONE of the coins in the picture below is genuine. Which one is it?
I don't see a an 1885 in the center? I wss going to say the upside down 1882. Maybe it's just my monitor?
Thank you
"La Vostra Nonna Ha Faccia Del Fungo"
1886 -- did I typo the date and say 1885?
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <i>I hope you guys don't get the idea that all counterfeits are as crude as the ones being shown here. Currently, counterfeit US gold coins of the proper weight, diameter, and gold content and fineness are being manufactured and they are virtually indistinguisable from the genuine product. Unless you are an expert authenticator, you will be fooled. Just a friendly warning so that you won't get over confident after viewing these crude immitations. >>
I agree that they are crude but they also represent the majority of what is come across by new collectors in this market. You won't believe the # of phonecalls a week I get with someone who has a trade dollar dated 1889 or a bust dollar dated 1878.
<< <i>Reading this document should provide you with a measure of protection against the multitudes of low and mid-range counterfeits. Preparing you for a career at PCGS as the go-to Counterfeit expert is outside the scope of this document! >>
<< <i>I agree that they are crude but they also represent the majority of what is come across by new collectors in this market. You won't believe the # of phonecalls a week I get with someone who has a trade dollar dated 1889 or a bust dollar dated 1878. >>
I just wanted to make sure that new collectors didn't get over confident after seeing the extremely crude fakes in this article. As they say, a little knowledge can be a dangerous thing. With the better counterfeits out there, even the experts at PCGS have been fooled.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
An authorized PCGS dealer, and a contributor to the Red Book.
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
<< <i>I hope you guys don't get the idea that all counterfeits are as crude as the ones being shown here. Currently, counterfeit US gold coins of the proper weight, diameter, and gold content and fineness are being manufactured and they are virtually indistinguisable from the genuine product. Unless you are an expert authenticator, you will be fooled. Just a friendly warning so that you won't get over confident after viewing these crude immitations. >>
I would assume that PCGS and NGC can filter them out? Correct? I bought a 1911 AU-58 $5 in NGC so I could try to avoid the counterfeits.
IMHO The TPGs that offer solid guarantees are the best protection.
You hear and read "Buy the coin, not the holder" constantly. --- but I like having my coins be certified and will admit it -- THE HOLDER is at leat part of what I am spending money on.
There, I've said it, and I'm not taking it back...
<< <i>I would assume that PCGS and NGC can filter them out? Correct? I bought a 1911 AU-58 $5 in NGC so I could try to avoid the counterfeits. >>
PCGS graded a couple hundred Morgans with the micro O mintmark (1896, 1900, and 1902) that were later proved to be counterfeit. When their mistake was discovered, they offered to buy them back under their guarantee. The top tier services are good and the chances of getting a counterfeit in one of their slabs is very remote but not impossible.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <i>
<< <i>I would assume that PCGS and NGC can filter them out? Correct? I bought a 1911 AU-58 $5 in NGC so I could try to avoid the counterfeits. >>
PCGS graded a couple hundred Morgans with the micro O mintmark (1896, 1900, and 1902) that were later proved to be counterfeit. When their mistake was discovered, they offered to buy them back under their guarantee. The top tier services are good and the chances of getting a counterfeit in one of their slabs is very remote but not impossible. >>
Those who kept their PCGS certified micro o dollars of 1896, 1900, and 1902 made a good decision; they're now worth a lot more than when PCGS bought some of them back under their guarantee. I think PCGS certified just over 100 of these dollars and I think fewer than 25% were sent back to PCGS.
An authorized PCGS dealer, and a contributor to the Red Book.
Thanks for sharing and taking the time to post it.
Rob the Newbie
It's apparently more widespread than anyone here has personally seen . . .
Drunner